Germany in the World Economy

General characteristics of economy Structure of German Economy

General characteristics of economy Area - 357,021 km 2 (63rd)63rd Population (2012) - 80,399,300 (16th)16th Density - 225/km 2 (58th)58th GDP (2012, nominal) - $3.401 trillion(4th)4th GDP (2012, PPP) - $3.197 trillion (5th)5th

Germany is the world's fourth-largest economy by nominal GDP and the fifth-largest by purchasing power parity.fourth-largest economy by nominal GDPfifth-largest by purchasing power parity As a global leader in several industrial and technological sectors, it is the second-largest exporter and third-largest importer of goods.second-largest exporterthird-largest importer

The country ranks highly in many international metrics of performance, has developed a very high standard of living, and features a comprehensive social security system, which includes the world's oldest universal health care system.international metrics of performancevery high standard of livingsocial securityuniversal health care

The official average national unemployment rate in June 2013 was 6.6%. However, the official average national unemployment rate also includes people with a part-time job that are looking for a full-time job.

Germany has a social market economywith a highly skilled labour force, a large capital stock, a low level of corruption,and a high level of innovation.social market economylabour forcecapital stock Germany is the biggest net contributor to the EU budget

The service sector contributes approximately 71% of the total GDP, industry 28%, and agriculture 1%.service sector

Business Of the world's 500 largest stock-market-listed companies measured by revenue in 2010, the Fortune Global 500, 37 are headquartered in Germany. Fortune Global 500

30 Germany-based companies are included in the DAX, the German stock market index. Well-known global brands are Mercedes-Benz, BMW, SAP, Siemens, Volkswagen, Adidas, Audi, Allianz, Porsche, Bayer, Bosch, and Nivea.DAXMercedes-Benz BMWSAPSiemensVolkswagenAdidas AudiAllianzPorscheBayerBosch Nivea

Science and technology Known for its rich cultural and political history, Germany has been the home of many influential philosophers, music composers, scientists, and inventors.culturalpoliticalhistoryphilosophersmusic composersscientists, and inventors

The Nobel Prize has been awarded to 103 German laureates. Nobel Prize103 German laureates For most of the 20th century, German laureates had more awards than those of any other nation, especially in the sciences (physics, chemistry, and physiology or medicine).physicschemistryphysiology or medicine

The work of Albert Einstein and Max Planck was crucial to the foundation of modern physics, which Werner Heisenberg and Max Born developed further.Albert EinsteinMax PlanckphysicsWerner HeisenbergMax Born

Wilhelm Röntgen discovered X-rays and was the first winner of the Nobel Prize in Physics in Wilhelm RöntgenX-rays Otto Hahn was a pioneer in the fields of radioactivity and radiochemistry and discovered nuclear fission, while Ferdinand Cohn and Robert Koch were founders of microbiology. Otto Hahnradioactivityradiochemistrynuclear fissionFerdinand CohnRobert Kochmicrobiology

Numerous mathematicians were born in Germany, including Carl Friedrich Gauss, David Hilbert, Bernhard Riemann, Gottfried Leibniz, Karl Weierstrass, Hermann Weyl and Felix Klein.mathematiciansCarl Friedrich GaussDavid HilbertBernhard RiemannGottfried Leibniz Karl WeierstrassHermann WeylFelix Klein

Germany is one of the leading countries in developing and using green technologies. Companies specialising in green technology have an estimated turnover of €200 billion.green technology

Key sectors of Germany's green technology industry are power generation, sustainable mobility, material efficiency, energy efficiency, waste management and recycling, and sustainable water managementrecyclingwater management

Structure of German Economy Germany is relatively poor in raw materials. Only lignite and potash salt are available in economically significant quantities.lignitepotash

Power plants burning lignite are one of the main sources of electricity in Germany. Oil, natural gas and other resources are, for the most part, imported from other countries. Germany imports about two thirds of its energy. Oilnatural gas

The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%.service sector Most of the country's products are in engineering, especially in automobiles, machinery, metals, and chemical goods. Germany is the leading producer of wind turbines and solar power technology in the world.

Agriculture Germany is the third largest agricultural producer in the European Union after France and Italy. Germany’s principal agricultural products are potatoes, wheat, barley, sugar beets, fruit, and cabbages.

The forestry industry provides for about two- thirds of domestic consumption of wood and wood products, so Germany is a net importer of these items.

Agriculture is extremely productive, and Germany is able to cover 90% of its nutritional needs with domestic production.